Jan 4, 2018

Trump takes credit for dialogue between North and South Korea

President Trump took credit for South Korea's proposal of high-level talks with North Korea, after Kim Jong-un said he would be "open to dialogue" with President Moon.

Why it matters: Trump acknowledging that talks "are a good thing" breaks with the hard line he and his administration has maintained against North Korea. So far Trump has insisted that negotiations are off the table until Pyongyang abandons its nuclear arsenal. Just two days ago, UN Ambassador Nikki Haley said the U.S. will not recognize talks among other countries and North Korea until the country abandons their nuclear weapons.

Go deeper

Wall Street notches worst week for stocks since 2008

Traders work on the floor of the New York Stock Exchange. Photo: Scott Heins/Getty Images

Stocks closed down about 1% on Friday, ending the worst week for Wall Street since the financial crisis.

Why it matters: The stretch of declines came after a spike in coronavirus cases around the world earlier this week. The steep losses prompted questions about the fate of the record-long economic expansion, as well as a rare statement from the Federal Reserve.

Go deeper: The growing coronavirus recession threat

Federal Reserve: Coronavirus poses "evolving risk" to the economy

Federal Reserve chairman Jerome Powell. Photo: Sarah Silbiger/Getty Images

Federal Reserve chairman Jerome Powell took the rare move Friday of issuing a statement meant to reassure investors, one that opened the door to a possible interest rate cut.

Why it matters: The Fed rarely issues statements like this outside of policy meetings and scheduled public appearances. It came as the stock market continues its steep decline this week. Stocks briefly pared some losses after the 2:30 p.m. EST statement came out.